Bench: Shri C.M.Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ran/2019 & आयकर अऩीऱ सं./Ita No.53/Ran/2019 (नििाारण वषा / Assessment Year :2015-2016 & 2013-2014) Shri Navneet Modi, Vs. Dcit, Circle-2, Ranchi Modi House, Kanke Dam Side Road, Kanke, Ranchi स्थायी ऱेखा सं./ Pan No. : Actpm 1511 F (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri Devesh Poddar, Advocate राजस्व की ओर से /Revenue By : Shri Inderjeet Singh, Cit(Dr)

vii) Regarding applicability of provisions of section 68, I find that the appellant has brought substantial material on record to show that these are sundry creditor for purchases paid in subsequent years and that part of the purchases from the very parties were already accepted by the Assessing Officer. Evidently, the creditors were held to be bogus